Third time is the charm?

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For Professional and Institutional Investors

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12 May 2025

Third time is the charm?

Bitcoin has reclaimed six digits following continued strong momentum. In contrast to past $100k breakouts, we see no signs of derivatives froth as general defensiveness prevails, strengthening the case for lasting momentum and new ATHs.

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Healthy rally pushes BTC back into six-digits

Bitcoin momentum reigns strong with a 9% weekly gain, firmly reclaiming the $100k level in a move defined by broad-based spot demand and measured positioning. Spot volumes grew 51% this week to an average of $3.9bn, and while this volume impulse is pronounced, trading activity reigns shallow compared to BTC’s past visits above $100,000.